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2019 Q3 San Gabriel Valley Industrial Knowledge Report

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Quiet Quarter As Future Deliveries Loom

Key Takeaways:

  • This quarter the vacancy rate was unchanged at 1.1%, which remains near a historic low. Industrial space remains scarce in this market.
  • Average asking lease rates were also unchanged over the quarter, ending at $0.84 per square foot (PSF) triple net (NNN). This remains the high water market for asking rents in the region.
  • A large amount of construction remains on the horizon, promising some 2,501,200 square feet to be delivered in the next eight to twelve months. A majority of this construction activity (71%) is in three buildings over 500,000 square feet. A good portion of this amount is pre-leased which will lead to positive absorption upon completion.

Outlook: 

The San Gabriel Valley consists of 31 cities and 400 square miles, with more than 1.8 million residents. International trade, especially with Pacific Rim countries, continues to be a vital aspect of the growing economy. Rents in the San Gabriel Valley market remain at an all-time high. The region still has an  exceptionally low vacancy rate, leading many tenants to consider purchasing their real estate.

 

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Greater Los Angeles San Gabriel Valley Industrial

2019 Q3 San Gabriel Valley Industrial Knowledge Report

Download Report